Information for Possible Shareholders

The company still has a considerable number of shareholders for whom we do not hold addresses. The result is that each time we make a distribution and we have been doing this since 1989, we accumulate funds to the person with the unknown address and these then become a liability of the Company.On suitably identifying that person or their descendants the Company then pays to them these accumulated funds. We therefore recommend if you that have good reason to believe that one of the names in our Share Register is you or an ancestor of yours that you contact us further to identifying yourself or taking steps to complete successions from the ancestor.

Important Forms and Documents for Shareholders

The forms which are included on this website have been designed by our solicitor to facilitate successions where formal administration of deceased estates has not proceeded through the Courts and to assist in identification of those shareholders who have become lost. It is important for all shareholders that these forms are completed to ensure that shares are succeeded to by the correct descendants.
You can print the forms from the site and complete them but you must not alter them without consulting Maureen. Alternatively you may feel happier discussing the forms and procedures with her first, before you commence action on a transfer or succession. She will be more than happy to give you any assistance she can.The appended list of requirements gives you a check list of documents which will be required or require to be completed for the various actions you may wish the Company to take in connection with the Share Register.

Minimum Shareholding

In accordance with MIL constitution, the minimum number of shares that a shareholder may hold in the company is 10 shares. When a shareholder holds less than the Minimum Holding of shares then they may not transfer any number of their shares less than the full number held. This is to avoid shareholdings becoming uneconomic.

Succession Flow Chart or download PDF here

Textural Description for Succession Flow Chart

When a person has died and succession is required: -
In all cases, we need a "Death Certificate" and "Whakapapa" details to confirm that the correct person is being dealt with.

1. Is there a Will?

• If there is a Will, has Probate been taken out?


• If Probate has been taken out, we require a copy of Probate.
• Complete Application for Transmission of Shares
• Once Probate has been received Transmission Form and Share Transfer Forms required to be completed by the Executor/s
• Note: Share Transfer Forms can be completed at a later stage


• If Probate has not been taken out, a certified copy of the last Will is required
Once a certified copy of the last Will has been received complete: -


• Application Pursuant to Will
• Deed of Indemnity
• Full death certificate
  
• Certified copy of Will
  
• Transmission Form
  
• Share Transfer Form/s
  

Again documentation is to be completed by the Executor/s of the Will.

2. If there is no Will?

• Has an Administrator being appointed by the Courts to administer the estate?

If YES, then Letters of Administration are required
Evidential Requirements: -


• Copy of Letters of Administration
  
• Transmission Form
  
• Share Transfer Form
  

Administrator/s to complete documentation

3. If no Administrator has been appointed

• Have Maori land interests been succeeded to through the Maori Land Court?
If so the following is required: -


• Full copy of death certificate
  
• Copy of Maori Land Court Vesting Order
  
• Copy of Minutes pertaining to Maori Land Court Vesting Order
  


• Once the above have been obtained complete: -
  


• Application Pursuant to Maori Land Court Vesting Order
  
• Deed of Indemnity
  


• If succession has not been completed through the Maori Land Court in Rotorua it is recommended to apply to succeed to all the deceased's land interests in the Waiariki District through the Rotorua office.

Documentation to be completed (if possible) by the Administrator appointed under the Maori Land Court Vesting Order. If not possible documentation to be completed by the applicant (ie: - closest relative who will be a beneficiary)

Transferring shares to a Whanau Trust

Under Probate, Certified copy of the Will or Letters of Administration the following are required:

• Share Transfer Form to be completed transferring shares to the Trust
  
• Copy of Whanau Trust Order.
  
• Consent Form for Trustees to Act on behalf of a Whanau Trust

Under a Maori Land Court Vesting Order

• Consent Forms transferring shares to a Whanau Trust
  
• To be signed by all beneficiaries entitled
  
• Consent Forms for Trustees of a Whanau Trust
  
• Copy of Whanau Trust Order

N.B. A Trust Order is required when transferring shares to a Whanau Trust.
If there is no Trust Order and it is wished for the shares from our Company to be transferred to a Trust, before this can be done a Trust Deed must be obtained and this is done through a Solicitor or the Maori Land Court.

Tarawera Forest from Mount Maungawhakamana looking towards Lake Tarawera	Commencement of Clear Felling in 1987	The Peak of Mount Putauaki